Stock Futures Slide After Fed Slashes Rates S&P 500 futures hit a limit by falling 5%; Dow futures

[spotthebird]

Source: WSJ

Stock futures slid Sunday evening at the open of trading after the Federal Reserve slashed its benchmark interest rate to near zero, a sign that investors remain worried that the coronavirus will fuel a recession even with borrowing costs dropping.

Read more: https://www.wsj.com/articles/stock-futures-slide-after-fed-slashes-rates-11584310328

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Trump was giddy about the rate slash in today's presser. He has no understanding of anything

[Girard442]

1. He thought the rate cut would juice the market and he could gloat.

When the ship is obviously sinking, free drinks at the bar isn't going to cheer up the passengers all that much.

[bucolic_frolic]

2. I am not as pessimistic because of the late runup Friday

This futures drop is in part a response to Friday's 2000 point gain, and fear about tomorrow.

[Lucky Luciano]

3. Nothing screams bear market more than 9% rallies. Seriously.

[bucolic_frolic]

5. Yes, must admit, you are right about that /nt

[agingdem]

4. we're a service economy...

if we can't go anywhere and buy anything and eat in restaurants why the hell would a zero percent rate do a damn thing?

[modrepub]

6. Might Help The Banks/Liquidity

Right now it seems this action is to prop up the banks. Not going to help people who have loose hours or work and are saddled with the credit card debt or trying to make mortgage payments in the next couple of months. I hate to think what will happen if people start running to the ATM machines for cash all at once.

I finally logged on to work and checked email. Was somewhat disturbed that my work 401 had posted an email saying that they would do their best to keep up with requests through their online system. Am wondering what people are doing. Are they cashing out, selling funds, asking for loans?!?

...and we're also out of coffee.

[Lucky Luciano]

7. I agree. Rent/mortgage holiday (including landlords) might make sense.

[sarcasmo]

8. Trump's lack of understanding is obvious by his 6 bankruptcies.